Bloomberg News

Sitt’s Thor Said to Buy Chicago Barneys Site for $155 Million

June 13, 2013

Thor Equities LLC, the real estate company headed by Joseph Sitt, agreed to buy a Chicago building that’s home to a luxury Barneys New York store for $155 million, a person with knowledge of the deal said.

Thor, based in New York, is purchasing the property from Israeli investor Nochi Dankner, according to the person, who asked not to be identified because the details are private. The six-story building, located at 15 East Oak St. in the city’s high-end Gold Coast shopping district, houses a Fred’s restaurant in addition to the Barneys store.

Stefan Friedman, a Thor spokesman, declined to comment on the transaction. A message left for Dankner at his Tel Aviv office after regular business hours wasn’t immediately returned.

Thor, owner of seven properties on Manhattan’s Fifth Avenue, is a real estate development, leasing and management company. In Chicago, it owns the Palmer House Hilton hotel and four properties on South State Street, according to its website.

To contact the reporter on this story: Nadja Brandt in Los Angeles at nbrandt@bloomberg.net

To contact the editor responsible for this story: Kara Wetzel at kwetzel@bloomberg.net


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